Key Developments For City Holding Corp
City Holding Corp (CHCO.O) (Nasdaq)
City Holding Co. Declares Dividend
City Holding Co. announced that on June 24, 2009, the Board approved a quarterly cash dividend to $0.34 per share payable July 31, 2009, to shareholders of record as of July 15, 2009.
City Holding Co. Files $100 Million Mixed Securities Shelf-DJ
Dow Jones reported that City Holding Co. registered with the Securities and Exchange Commission to sell from time to time up to $100 million of common stock, preferred stock, warrants and units. The Company said it intends to use the net proceeds for general corporate purposes and to support ongoing and future anticipated growth. No underwriters were listed in the filing.
City Holding Co. Announces Issuance Of $16.0 Million Trust Preferred Securities
City Holding Co. announced that it completed the private placement of $16.0 million trust preferred securities through its City Holding Capital Trust III subsidiary. Distributions on the trust preferred securities are cumulative and will be payable quarterly at an interest rate of 3.5% over the three-month LIBOR rate, reset quarterly. Interest payments are due in March, June, September, and December. The securities mature in 30 years and are redeemable by the Company after five years. The proceeds of the capital securities were used to fund the redemption on March 31, 2008 of all the Company's outstanding 9.15% trust preferred securities in the amount of $16.0 million.
City Holding Co. Increases Dividend On Common Shares
City Holding Co. announced that it has declared a dividend of 34 cents per common share for shareholders of record as of April 15, 2008. The dividend is payable on April 30, 2008. The dividend represents a nearly 10% increase from the $0.31 per share cash dividend paid in the first quarter of 2008 and follows a 10% increase in the cash dividend, from 28 cents per common share to $0.31, approved by the board in March 2007.
City Holding Co.'s City National Bank Wins Lawsuit Against Jack Whittaker
City Holding Co. announced that its wholly owned subsidiary, City National Bank of West Virginia, prevailed in a lawsuit filed by Jack Whittaker. On September 12, 2007 Whittaker dropped his lawsuit and all claims against City National Bank in open court in Kanawha County, West Virginia. His attorney reported to the trial judge that an investigation concluded that City National Bank was not linked to any wrongdoing when Whittaker lost approximately $49,000 as a result of payroll checks being cashed at City National Bank locations. Whittaker agreed to dismiss the entire lawsuit, and City National Bank did not pay any monetary settlement in the case.
